Recordkeeping fees per participant
not reported
Not reported on this filing.
Employers › Beacon Financial
Beacon Financial 401(k)
- BBT NYSE
- Finance and insurance
- Pittsfield, MA
- EIN 04-3312097
- 1 plan with Schedule H financials
- Plan year 2024
- Beacon Financial Corporation
- filed as Berkshire Bank
- SEC registrant Beacon Financial Corp
Administrative expenses excluding investment management, per participant · Berkshire Bank 401(k) Plan · plan year 2024
$96.10
Higher than 52% of the 8,758 plans $50 to 250M that report it.
Source
= $156,353 / 1,627
derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20251014120118NAL0005735106001, received 2025-10-14
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20251014120118NAL0005735106001, received 2025-10-14
Percentiles compare this plan with the Schedule H plans $50 to 250M in assets of the same plan year, excluding final filings; shown only where at least 50 comparable plans report the figure. Plan year 2024-01-01 to 2024-12-31, filing received 2025-10-14.
Cost and contributions
Administrative expenses per participant
$96.10
Higher than 34% of the 9,042 plans $50 to 250M that report it.
Source
= $156,353 / 1,627
Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20251014120118NAL0005735106001, received 2025-10-14
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20251014120118NAL0005735106001, received 2025-10-14
Administrative expenses as a share of assets
0.086%
Higher than 32% of the 9,049 plans $50 to 250M that report it.
Source
= $156,353 / $182,748,321
Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20251014120118NAL0005735106001, received 2025-10-14
assets_eoy: Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20251014120118NAL0005735106001, received 2025-10-14
Employer contributions per participant
$2,004
Higher than 33% of the 9,105 plans $50 to 250M that report it.
Source
= $3,260,369 / 1,627
Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20251014120118NAL0005735106001, received 2025-10-14
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20251014120118NAL0005735106001, received 2025-10-14
Employer share of total contributions
26.0%
Higher than 38% of the 9,112 plans $50 to 250M that report it.
Source
= $3,260,369 / $12,542,127
Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20251014120118NAL0005735106001, received 2025-10-14
total_contrib: Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20251014120118NAL0005735106001, received 2025-10-14
Plan terms, as stated in Beacon Financial Corporation's SEC filings
Employer match
“The Company makes a matching contribution of the amount contributed by eligible employees, up to 5% of the employee's yearly compensation.”
Form 10-K filed 2026-03-02, for the year ended 2025-12-31 · benefits note, 10-K benefits note · source document
Eligibility
“Employees of the Bank are eligible to participate in the Plan after attaining eighteen years of age and completing ninety days of service.”
Form 11-K filed 2026-06-25, for the year ended 2025-12-31 · plan description note, eligibility · source document
Vesting
“Participants are 100% vested in all contributions plus actual earnings thereon.”
Form 11-K filed 2026-06-25, for the year ended 2025-12-31 · plan description note, vesting · source document
Terms quoted from the filing for the year ended 2025-12-31. Figures cover plan year 2024. The plan document governs.
Plan features
2E profit-sharing · 2F ERISA 404(c) plan · 2G fully participant-directed · 2J 401(k) feature · 2K 401(m) arrangement · 2T default investment (QDIA) · 3D IRS pre-approved plan · Form 5500, line 8a; TYPE_PENSION_BNFT_CODE pos 81; filing 20251014120118NAL0005735106001, received 2025-10-14
Full record, Berkshire Bank 401(k) Plan
| Field | Value | Source |
|---|---|---|
| Plan sponsor | BERKSHIRE BANK | Form 5500, Part II line 2a; SPONSOR_DFE_NAME pos 19; filing 20251014120118NAL0005735106001, received 2025-10-14 |
| Plan name | BERKSHIRE BANK 401(K) PLAN | Form 5500, line 1a; PLAN_NAME pos 16; filing 20251014120118NAL0005735106001, received 2025-10-14 |
| Sponsor EIN / plan number | 04-3312097 / 002 | Form 5500, line 2b; SPONS_DFE_EIN pos 44; filing 20251014120118NAL0005735106001, received 2025-10-14 |
| Plan type | single-employer | Form 5500, Part I line A; TYPE_PLAN_ENTITY_CD pos 4; filing 20251014120118NAL0005735106001, received 2025-10-14 |
| Sponsor location | PITTSFIELD, MA | Form 5500, line 2a; SPONS_DFE_MAIL_US_STATE pos 25; filing 20251014120118NAL0005735106001, received 2025-10-14 |
| Industry (business code) | 522120, Finance and insurance | Form 5500, line 2d; BUSINESS_CODE pos 46; filing 20251014120118NAL0005735106001, received 2025-10-14 |
| Plan year | 2024-01-01 to 2024-12-31 | Form 5500, Part I plan year; FORM_PLAN_YEAR_BEGIN_DATE pos 2; filing 20251014120118NAL0005735106001, received 2025-10-14 |
| Filing received | 2025-10-14 | Form 5500, EFAST2 receipt date; DATE_RECEIVED pos 102; filing 20251014120118NAL0005735106001, received 2025-10-14 |
| Final filing | no | Form 5500, Part I line B; FINAL_FILING_IND pos 8; filing 20251014120118NAL0005735106001, received 2025-10-14 |
| Amended filing | no | Form 5500, Part I line B; AMENDED_IND pos 7; filing 20251014120118NAL0005735106001, received 2025-10-14 |
| Participants, beginning of year | 1,740 | Form 5500, line 5; TOT_PARTCP_BOY_CNT pos 71; filing 20251014120118NAL0005735106001, received 2025-10-14 |
| Active participants | 942 | Form 5500, line 6a(2); TOT_ACTIVE_PARTCP_CNT pos 72; filing 20251014120118NAL0005735106001, received 2025-10-14 |
| Participants, end of year | 1,672 | Form 5500, line 6f; TOT_ACT_RTD_SEP_BENEF_CNT pos 77; filing 20251014120118NAL0005735106001, received 2025-10-14 |
| Participants with an account balance | 1,627 | Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20251014120118NAL0005735106001, received 2025-10-14 |
| Total assets, beginning of year | $164,534,981 | Schedule H, Part I line 1f col (a); TOT_ASSETS_BOY_AMT pos 30; filing 20251014120118NAL0005735106001, received 2025-10-14 |
| Total assets, end of year | $182,748,321 | Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20251014120118NAL0005735106001, received 2025-10-14 |
| Net assets, end of year | $182,748,321 | Schedule H, line 1l col (b); NET_ASSETS_EOY_AMT pos 67; filing 20251014120118NAL0005735106001, received 2025-10-14 |
| Total income | $34,349,135 | Schedule H, Part II line 2d; TOT_INCOME_AMT pos 97; filing 20251014120118NAL0005735106001, received 2025-10-14 |
| Net income | $18,213,340 | Schedule H, line 2k; NET_INCOME_AMT pos 111; filing 20251014120118NAL0005735106001, received 2025-10-14 |
| Employer contributions | $3,260,369 | Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20251014120118NAL0005735106001, received 2025-10-14 |
| Participant contributions | $7,677,361 | Schedule H, line 2a(1)(B); PARTICIPANT_CONTRIB_AMT pos 69; filing 20251014120118NAL0005735106001, received 2025-10-14 |
| Other contributions (incl. rollovers) | $1,604,397 | Schedule H, line 2a(1)(C); OTH_CONTRIB_RCVD_AMT pos 70; filing 20251014120118NAL0005735106001, received 2025-10-14 |
| Total contributions | $12,542,127 | Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20251014120118NAL0005735106001, received 2025-10-14 |
| Benefit payments | $15,979,442 | Schedule H, line 2e(4); TOT_DISTRIB_BNFT_AMT pos 101; filing 20251014120118NAL0005735106001, received 2025-10-14 |
| Total expenses (incl. benefit payments) | $16,135,795 | Schedule H, line 2j; TOT_EXPENSES_AMT pos 110; filing 20251014120118NAL0005735106001, received 2025-10-14 |
| Total administrative expenses | $156,353 | Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20251014120118NAL0005735106001, received 2025-10-14 |
| Administrative expenses excluding investment management | $156,353 | derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20251014120118NAL0005735106001, received 2025-10-14 |
| Held in mutual funds | $173,212,408 | Schedule H, line 1c(13) col (b); INT_REG_INVST_CO_EOY_AMT pos 55; filing 20251014120118NAL0005735106001, received 2025-10-14 |
| Independent auditor | CROWE, LLP | Schedule H, Part III line 3a; ACCOUNTANT_FIRM_NAME pos 116; filing 20251014120118NAL0005735106001, received 2025-10-14 |
Position = column in the DOL layout for form year 2024. Filing 20251014120118NAL0005735106001, received 2025-10-14.
Service providers paid directly by the plan
| Provider | Relationship | Service codes | Direct compensation | Indirect |
|---|---|---|---|---|
| THE VANGUARD GROUP, INC.recordkeeper | NONE | 15 Recordkeeping and information management; 16 Consulting (general); 25 Trustee (directed); 33 Securities brokerage; 37 Participant loan processing; 52 Investment management fees paid indirectly by plan; 99 Other fees | $118,344 | yes |
| VANGUARD ADVISERS INC. | NONE | 26 Investment advisory (participants) | $43,179 | no |
Schedule C Part I line 2: name (a), service codes (b), relationship (c), direct compensation paid by the plan (d), indirect compensation received (e). Filing 20251014120118NAL0005735106001, received 2025-10-14.
What changed since the 2023 plan year
| Figure | 2023 | 2024 | Change |
|---|---|---|---|
| Total assets | $164,534,981 | $182,748,321 | 11.1% |
| Participants with a balance | 1,669 | 1,627 | -2.5% |
| Administrative expenses | $146,951 | $156,353 | 6.4% |
| Recordkeeping fees per participant | not reported | not reported | |
| Employer contributions | $3,147,280 | $3,260,369 | 3.6% |
Prior filing 20241004085141NAL0006517731001, received 2024-10-04; the plan years are contiguous.
Alerts, claims and corrections
Sponsor name as filed: BERKSHIRE BANK; SEC registrant: Beacon Financial Corp (CIK 1108134, matched by 11-K plan title; display name from the Form 11-K cover).